Foyston Gordon & Payne Inc Makes New $13.15 Million Investment in Otis Worldwide Corporation $OTIS

Foyston Gordon & Payne Inc purchased a new stake in Otis Worldwide Corporation (NYSE:OTIS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 183,616 shares of the company’s stock, valued at approximately $13,147,000. Otis Worldwide makes up approximately 2.8% of Foyston Gordon & Payne Inc’s investment portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in OTIS. Camelot Portfolios LLC purchased a new position in Otis Worldwide in the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Otis Worldwide in the 4th quarter valued at approximately $27,000. MidFirst Bank acquired a new stake in shares of Otis Worldwide in the 2nd quarter valued at $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Otis Worldwide in the 2nd quarter valued at $28,000. Finally, Elevation Wealth Partners LLC lifted its position in shares of Otis Worldwide by 1,910.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 402 shares of the company’s stock worth $29,000 after purchasing an additional 382 shares during the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OTIS has been the topic of several recent analyst reports. Evercore reissued an “outperform” rating and issued a $95.00 target price on shares of Otis Worldwide in a report on Thursday, July 23rd. Royal Bank Of Canada set a $90.00 price objective on Otis Worldwide in a research report on Tuesday, July 28th. Sanford C. Bernstein dropped their price objective on Otis Worldwide from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Otis Worldwide in a research note on Wednesday, August 12th. Finally, Morgan Stanley set a $75.00 price target on Otis Worldwide in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $92.91.

Otis Worldwide Stock Performance

Shares of OTIS stock opened at $71.65 on Friday. The stock’s 50-day moving average is $72.64 and its two-hundred day moving average is $77.62. Otis Worldwide Corporation has a 1 year low of $69.16 and a 1 year high of $94.57. The firm has a market cap of $27.28 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.52 and a beta of 0.89.

Otis Worldwide (NYSE:OTIS) last posted its earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 EPS. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. As a group, research analysts predict that Otis Worldwide Corporation will post 4.03 EPS for the current year.

Otis Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 14th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Worldwide’s dividend payout ratio is presently 45.24%.

Otis Worldwide Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.